What is OBITS ?

OBITS gives the chance to profit from the wild swings in prices of the digital currency market without of it`s deep understanding. OBITS is therefore a way of empowering the average user to profit from the markets without a comprehensive background either in trading strategies or blockchain technology.

OBITS tokens are hosted on OpenLedger, one of the world’s first truly Decentralized Autonomous Exchanges. This means the holdings of the exchange are always auditable, stable, and user’s balances are always available in full.
Unlike ordinary banks it does not depend on fractional reserves. The business is based on blockchain technology offered by Bitshares and its code is fully open source for anyone who wants to look further.

Holding OBITS entitles you to become a part owner of the bright future that lies ahead of OpenLedger. OBITS owners have an access to share in the profits issued by the organization. Just like a real life business, you will also be entitled to cast votes on key decisions made by the issuer. Buying OBITS is the equivalent of buying an early stake in a ground-breaking technology company.

Unlike bitcoin, OBITS is not subject to market manipulation, extremely volatility or the vagaries of the market. This empowers the founding team to keep your vested money safe and protected from unexpected declines in value. Given the fact that the product is just starting to penetrate new markets, there’s only one development path – upwards.

Decentralized

This means that no single entity or individual, including the CEO, makes binding decisions regarding the organization or has access to all the funds. Your funds are well protected by being distributed on computers across the world, so that no hacker will be able to break into or cause damage to the exchange.

OpenLedger’s decentralized exchange generates revenues by charging fees for providing services such as exchanging cryptocurrency with fiat, depositing or withdrawing funds, trading, registering on the exchange and taking referrals, to name a few. These profits are distributed among OBITS owners. This key functionality makes OBITS stand out against other well-known first-generation cryptocurrencies such as bitcoin.

Bitcoin’s price is determined on the basis of the market’s consensus of its value, decided by what people will pay on exchanges worldwide at any point in time. It is therefore extremely volatile and prone to sharp rises and falls, whereas OBITS’ value is determined by the businesses involved and the ongoing development of these decentralized digital platforms.

Autonomous

OpenLedger runs its business with decisions that are enforced by code. As humans we are all susceptible to greed and other emotions. However, when key decisions such as profit splits are pre-encoded into the system, it results in complete and reliable delivery on promises and increased trust in the system. This can be cross-checked by any individual with the technical know-how thanks to the open-source code on which the system runs.

Exchange

The exchange empowers retail consumers from around the globe to swap their fiat or digital currencies for cryptocurrencies, and thereby profit by taking a small percentage of each transfer, deposit, withdrawal or exchange. The profit is then sent out to anyone that holds OBITS tokens. This is one of the key differences between bitcoin and OBITS. While holding bitcoin gives you access to a digital token, verifiable on the blockchain yet susceptible to market conditions, OBITS is a system that brings consistent wealth in the form of profit splits from the organization.